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middle class tax cut message and i think vice presidential candidate paul ryan has been listening to a few things i have had to say. take a watch. >> growth tax reform, it cuts tax rates by 20%, more take home pay for the middle class. that right there creates about 7 million jobs. >> sit enough, though? does mitt romney get it? our kudlow congress is going to come back in session and see if nick can make the break through. >>> welcome back to the kudlow report, i'm larry kudlow, in this half hour, hold your breath. if bush tax cuts are not extended, watch those popular home short sales being stopped short. that's very important, could cause a wave in foreclosures and another wave in the journey turn in housing. and if that doesn't scare you, it's the first monday in october. and the key issues this year, affirmative action, same sex action, will the john roberts supreme court continue to reshape the country in a liberal or conservative direction? that's what we need to know. 36 days remaining until the election, sometime for some tough love on tax policies. paul ryan appeared on
should go to something like the paul ryan house plan he introduced a couple years ago which would eliminate virtually all deductions and credits and use the money to simplify the tax structure down to 10 and 25%. romney needs to be more bold here. his running mate has the bold ideas for tax reform. that's where we should be going here. >> you know, we've had various members of the house ways and means committee on this program in the last six months. almost to the person they say they want to initiate some sort of overall tax reform for next year that would move toward a tax simplification. we've heard this for years, but that's what's on their agenda. david, i wonder that would work counter to what mitt romney is proposing now. >> tax reform is a heavy lift. lots of vested, strong interest groups are going to fight eliminating the mortgage interest deduction, eliminating the charitable deduction. any of that will be a tough lift. go back to the basic math problem romney has. he wants to cut tax rates, which would cost about $900 billion a year, according to estimates, which means
as has paul ryan and certainly the vast majority of republicans in the house. which is a commitment not to raise overall taxes. romney's committed to cutting all tax rates at least 20%. ryan and the house republicans want to go to a top rate of 25% corporate and individual. romney's made it clear. any changes are in the context of keeping overall taxes from going up and making sure the middle class doesn't get hit request higher taxes. it's not a tax increase, he's made that clear. >> mr. secretary, a lot of discussion about whether or not the wealthy or the middle class families in america benefit more from any limit of deductions. >> well, a limit of deductions actually would hurt the wealthy to the extent that we're talking about a deduction that the wealthy take in very, very large amounts. a limit on those deductions makes some sense in terms of a progressive tax system. >> what do you think the plan for the president will be tonight? terms of tax reform, mr. reich? >> the president has said that he wants the so-called buffett rule that is a minimum tax particularly in regard t
,000 that was the number that paul ryan floated today. things that trouble me. i don't want middle class taxes to go up at all. so i'm worried about not just the mortgage deduction, the kiddy credit, health care deductions and earned income tax credits and i'm a little concerned, i would have to see the details, i want it to red line all middle class deductions and soak the upper end whose rate comes down to 28. >> the chances are of somebody making $80,000 or less, you are probably not going to hit them on the earned income tax credits, probably pretty unlikely. but you are right. it could be a problem with the middle class. you have to see the fine print. did romney release the fine print? >> interview from the fox affiliate in denver. can i ask you? >> let me say this, this is the first time in a long time that i disagree wednesday yo disagreeed with you. if you can trade in people in the middle class to increase their investment i'm all for it even if it means a small investment in the amount that they pay. >> why not get rid of that in terms of the corporate tax rate. >> i'll take it. >> sorry how
debt and our deficit. and i think with governor romney and paul ryan figured out was they can't give $5 trillion worth of tax cuts and still eat into the deficit, which i think is our biggest national problem. >> i think -- >> you're right. he might be able to do it. he might be able to do it if they did your plan. >> i'm telling you. you know, you were a good tax break governor. the pennsylvania tax break today is still very low. what is it? about 3%? >> the effective rate is 3.4%. >> do you know how amazing that is for the northeast and east? that's an amazing thing. that makes you a supply sideer. i don't want you to lose all your friends, but i think you're a supply sider with a 3.5% income tax. >> oh, my gosh. >> thank you very much. we'd love to have you back. >>> coming up on kudlow, congressional republicans demand answers from the administration on who knew what and when on the terror attack in libya that killed our distinguished ambassador chris stevens. is there a cover-up going on here? senator ron johnson sounds off. and folks, one more time, don't forget, free market capit
that wants to cut defense spending more than barack obama. and that is not -- >> except for paul ryan. >> i beg your pardon. ryan recast a bill that will -- >> he is for it. >> obama is just catering to the virginia voters and they are not going to buy it. they won't buy it. >> i'm larry kudlow. that's it for tonight's show. economic patriotism, you know what that means, grow the economy by 6 or 7% a year. [ man ] not only that, the silverado's powertrain warranty is 40,000 miles more than ford. and this workhorse gives you the power of a v8 with the highway fuel economy of a v6. incredible! right? an amazing test drive. i agree. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800
romney's proposed with paul ryan an ambitious reformation of the program that would go to voucher, but he hasn't said what the level of the voucher would be or the growth rate in the voucher. if you don't specify that, you can't specify what your savings will be or the impact on consumers. and finally president obama last year in the grand bargain talks with house speaker boehner talked about more ambitious proposals than medicare than he's advocated so far like raising the eligibility age from 65 to 67. hasn't said a word about that in the election campaign so far. you can expect the two to clash on that issue, as well. >> john, i know you've looked at some poll numbers from the journal and nbc news. maybe a slight tightening on a national level. but certainly in some important states like ohio, the president continues to lead. i know you've said the romney strategists believe they need ohio. if it's mathematically possible to win without it, why do they still believe they need it? >> well, because if you don't win ohio, you're probably not going to win, say, wisconsin, which is another
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to the debates and he's looking to some intensive campaigning with paul ryan to tray to make a difference. >> john, i heard a report on npr this morning talking about gary johnson, the former governor of new mexico, who's going to be running -- i think he's on the ballot in something like 47 states. you don't hear much about his campaign. you don't expect that it would make a difference too many places, but in some polls he's picked up as much as 6% of the electorate. do either the democrats or the republicans really give this much thought? >> i think republicans are a little more concerned. remember, gary johnson was an elected republican governor, and when you look at that strong libertarian chunk of the electorate, that's more of a part of the republican coalition. on the bright side for romney, gary johnson's got as minimal attention as a third party candidate can get, not anywhere in the league of ross perot some cycles ago, not as much as ralph nader i don't think either in 2000. but he is getting some. there's concern that in a close state, he could take a point or two away from ro
of the divide what paul ryan in some respects was supposed to represent. do you think that romney has tacked too far to the middle? in the past week or two he's talked about taxes and suggested that actually on upper and middle-class earners that their taxes aren't going to go down, for example? >> well, i think it needs to be even simpler than that as far as the message, and i don't know about tacking this way or that way. i think genuineness helps you in elections. but what i would say is the main difference between the candidates from my perspective is that president obama thinks that you can hire more government workers and that will stimulate the economy. i see government workers not as bad people, but they're in the wagon. you got to have more people pulling the wagon. i think governor romney understands that. you got to grow the private sector. >> senator paul, thank you for being on today. appreciate it a lot. >>> okay. we got a lot more coming up. at 8:30 eastern we'll get personal spending data for august and talking about the effect of this summer's drought. [ male announcer ] eligibl
on taxes, yesterday you were on the paul ryan clip, but there is a debate over the romney tax plan, not that he's not going to lower taxes, he may lower taxes and that may be a good thing for the economy, but the question is ultimately does it bring in enough revenue to make it revenue neutral? one of the things they have said about republicans is it would lower the deficits but the taxes have exploded under them. your views? >> there's no question the deficits have exploded under them. the last two decades among the two wars and the mistakes in my opinion, we blew a lot of money. multiples of what we blew before. so, you know, my attitude is that -- >> jimmy, my question is do you have any confidence no matter who is in office that actually the hard cuts that need to be made ultimately to make any text plan deficit neutral are actually going to happen? >> and my question to you comes down to a simple question. >> do you believe in the tooth fairy? >> who does the president listen to? i wonder if you could name for me four or five executives who have been advising the president and
Search Results 0 to 10 of about 11

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